Small-Cap Movers: Janux Therapeutics (JANX), BigBear.ai Holdings (BBAI), Turnstone Biologics (TSBX)

By Alex Ramsay, Co-founder

In the ever-evolving landscape of small-cap stocks, investors are keenly watching the recent remarkable movements of Janux Therapeutics (JANX), BigBear.ai Holdings (BBAI), and Turnstone Biologics (TSBX). Each of these companies has experienced substantial gains, and here’s a closer look at the developments driving their stock prices.

Janux Therapeutics, Inc. (JANX): +229.47%

Proposed Public Offering to Fuel Clinical Development

Janux Therapeutics has taken center stage with a staggering 229.47% surge, driven by the announcement of a proposed public offering of its common stock. The clinical-stage biopharmaceutical company aims to raise $175 million, with an additional option for underwriters to purchase up to $26.25 million more. BofA Securities, TD Cowen, Cantor Fitzgerald & Co., and William Blair & Company are acting as joint book-running managers for the offering.

The funds raised will be channeled into advancing the clinical development of Janux’s internal product pipeline and supporting general corporate initiatives. Janux specializes in tumor-activated immunotherapies for cancer, utilizing its proprietary TRACTr and TRACIr platforms to develop bispecific therapeutics. The company’s focus on safe and effective cancer treatments positions it as a compelling player in the biopharmaceutical sector.

BigBear.ai Holdings, Inc. (BBAI): +38.15%

Fourth Quarter 2023 Earnings Release

BigBear.ai has witnessed a significant uptick of 38.15%, likely fueled by anticipation surrounding its fourth-quarter earnings release scheduled for March 7, 2024. The AI-powered decision intelligence solutions provider, headquartered in Columbia, Maryland, has been a key player in national security, supply chain management, and digital identity.

Notably, BigBear.ai will not host an earnings call for this announcement. Investors are encouraged to access the earnings release on the company’s investor relations website. This development highlights BigBear.ai’s commitment to transparency and timely financial reporting.

Turnstone Biologics Corp. (TSBX): +36.66%

Active Participation in Investor Conferences

Turnstone Biologics has seen a surge of 36.66%, likely influenced by its proactive engagement in investor conferences. Members of its senior management team are scheduled to participate in the TD Cowen 44th Annual Global Health Care Conference and Leerink Partners Global Biopharma Conference 2024.

As a clinical-stage biotechnology company pioneering Selected TIL therapy for solid tumors, Turnstone Biologics is actively advancing its programs, with TIDAL-01 in Phase 1 studies for melanoma, breast cancer, and colorectal cancer. The company’s commitment to sharing its progress at prestigious conferences enhances its visibility and may contribute to the recent market enthusiasm.

In conclusion, the recent small-cap movers, Janux Therapeutics, BigBear.ai Holdings, and Turnstone Biologics, are capturing the attention of investors for distinct reasons. Janux’s strategic fundraising, BigBear.ai’s impending earnings release, and Turnstone’s active participation in investor conferences all contribute to the compelling narratives driving these stocks. As always, researchers are encouraged to conduct thorough research and consider the risks associated with small-cap investments before making any decisions. Stay tuned for more updates from Krypton Street Newsletter.